David Murrell on CBC: Nova Scotia’s low savings rate
On May 25, AIMS Author David Murrell joined Bob Murphy on CBC Mainstreet to discuss Nova Scotia's low household savings rate. For more, please see Household Savings in Atlantic Canada, 1981-2015.
Budgets Atlantic Canadian Style
Early in 2005, AIMS published a paper entitled "Could Do Better" which assessed provincial finances in Atlantic Canada. The paper concluded that in the 2004/05 fiscal year governments in the region didn’t do a very good job of balancing voter demands, while promoting an economic environment to attract skilled labour and business capital. AIMS studied the budgets of the 2005/06 fiscal year and concluded the region's governments are still failing to implement a formula for economic growth.
Could Do Better
AIMS latest paper "Could Do Better" shows where the bar needs to be set in measuring fiscal performance in Atlantic Canada. Prior to their 2004/05 budgets, the Atlantic Provinces were fiscally worse off than the nation as a whole. Despite that warning sign, their 2004/05 budgets were both a disappointment and an opportunity missed. This is a lesson worth heeding as we enter the 2005/06 budget season. The only way to master our budgetary challenges is to promote economic growth throughout the region, but provinces are failing to use their budgets effectively to achieve that growth.